Investing.com-- U.S. President-elect Donald Trump on Thursday named venture capitalist David Sacks as the White House AI & Crypto Czar, where he will guide government policy on the two industries.
Trump said Sacks “has been an extremely successful entrepreneur,” and that he had the acumen in the two “critical” industries.
“David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David will focus on making America the clear global leader in both areas,” Trump said in a social media post.
“...he will work on a legal framework so the crypto industry has the clarity it has been asking for, and can survive in the U.S.,” Trump said.
Sacks, a former Paypal executive, has angel investments in several major firms including Facebook (NASDAQ:META), Uber (NYSE:UBER), SpaceX, Airbnb and Palantir (NASDAQ:PLTR) through his Craft Ventures fund.
His enterprise software company Yanmer was acquired by Microsoft (NASDAQ:MSFT) for over $1 billion in 2012. He also hosts the All In podcast along with Chamath Palihapitiya, Jason Calacanis and David Friedberg
Trump said that Sacks will also help safeguard online free speech and steer the country away from “Big Tech bias and censorship.” Sacks had openly supported Trump during the 2024 election, and is also in support of digital assets.
Sacks’ appointment comes as speculation over Trump’s crypto-friendly policies drove Bitcoin to record highs above the coveted $100,000 level.
Trump named pro-crypto lawyer Paul Atkins as the next Chair of the Securities and Exchange Commission.